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The amounts of money requested in home loan applications at ABC Federal Savings are approximately normally distributed with a mean of $70,000 and a standard deviation of $20,000. A loan application is received this morning. What is the probability that:
a. The amount requested is $80,000 or more?
b. The amount requested is between $65,000 and $80,000?
c. The amount requested is between $65,000 or more?
d. Twenty percent of the loans are larger than what amount?
Explain how much should the airport authority be willing to pay for perfect information about the success of a brand new airport.
Assume that preparation D was a placebo. Use the Scheffe's procedure to compare the average response of A, B, C, and E to the response for D.
What is the p-value associated with the above sample result?
Construct the 90% and 95% interval estimates for the population mean weekly sales.
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A committee of three is selected at random from a set consisting of five Democrats, eight Republicans, and two Independents.
At.05 significance level, is there a difference in mean number of calls per day between 2 employees? Compute the p -value?
At the 5 percent level of significance, can we conclude that the mean weight is greater than 16 ounces? Determine the p- value.
At.01 significance level, can we conclude that there is more variation in selling prices of oceanfront homes?
Compute the skewness for your data set using Pearson's
It was reported that 20 readers responded and 87% said "no" while 13% said "yes." Recognize 4 major flaws in this survey.
How many boxes must the processor sample to be 95 percent confident that the sample mean does not differ from the population mean by more than 0.2 pounds?
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